LEATHERCRAFT 1

• Leathercraft


  The art of making decorative work on leather
• Leathercraft has been practiced for many years
• Useful things made from leather

  • Coin purses
  • Cardholders
  • Bags
  • Slippers
• Leather crafting can be practically done anywhere
• The Leather Craft industry has created opportunities for many
• Leather


  • Animal skin that came from small animals
  • Animal hide which came from big animals
  • Chemically treated to produce a strong material that resists decay
• Long before primitive people learned the art of knitting cloth, they were already using leather in many ways
• Pecuniary


  Comes from the Latin word "pecus" which means "Hide" or animal skin
• Filipinos were already know how to tanned an animal hide to produce a leather


  Early 16th century
• Filipinos' method of preserving a leather was not that good
• Present uses of leather


  • Shoes
  • Bags
  • Wallets
  • Purses
  • Accessories
  • Clothing like pants and jackets
• Groups who helped advance and develop leather

  • Explorers from America
  • Indians
  • Hebrews
• Leatherworkers were found during the earliest American colonists
• The Hebrews developed the method of tanning an animal hide by using oak bark up to the end of the 19th century
• Rational


  (in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
• Producers act rationally by


  Selling goods/services in a way that maximises their profits
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by


  Placing the interests of the people they serve first in order to maximise their welfare
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility